Tether dominance is another key factor in this crypto market.
We'll see
Indicates how many dollars that are already in the crypto market are invested in Bitcoin and Alcoins.
The lower the dominance of Tether, the more dollars are invested in Bitcoin and Alcoins and vice versa.
When investors take profits, Tether's dominance rises.
All this is also related to the inflow of capital to the crypto market.
If capital enters the crypto market, Tether's dominance rises. Then the investors decide when they buy Bitcoin or Alcoisn. In general, in bullish cycles, in the long term, this has been the process
Tether Dominance Analysis
As we see in the graph, since the recovery of the price of Bitcoin, the dominance has been falling.
Investors have invested in Bitcoin and Alcoins and this has kept the bull cycle going in the short term
But now we find great support, which has served at other times before. This indicates that at this point investors take profits or spend their investments in dollars.
Tether capitalization analysis
As we see in the graph, no money has entered the crypto market, the capitalization of Tether has remained at 66 Billions, we could say that it is a good fact that it does not continue to fall, it allows Bitcoin and Alcoins
Analysis of the situation
Should Tether's dominance break down support to continue the short-term bull run for Bitcoin and alcoins or else the short-term bull run would be at risk.
Other possibilities
Another possibility is that it does not break the support, but only Bitcoin or Alcoins go up.
If money enters the crypto market you can follow the upward movement in the short term